Malaysia to introduce new national investment policy

KUALA LUMPUR (BERNAMA) – The Malaysian government will introduce a new national investment policy to attract more high-quality investors as the country moves towards a high-income nation, Senior Minister cum International Trade and Industry Minister Mohamed Azmin Ali said.

He said a working paper on the proposed policy has been approved and endorsed by the Economic Action Council (EAC) and will be presented to the Cabinet within this month.

“After long deliberations and engagement with Bank Negara Malaysia, the Ministry of Finance (MoF) and the Malaysian Investment Development Authority (MIDA), we thought it is timely for us to introduce this new investment policy.

“The purpose of this national investment aspiration is to attract quality and technological investment so that we can prepare our workforce to meet the industry’s demand,” he told the media after attending a special assembly at the Ministry of International Trade and Industry (MITI) yesterday.

Following deliberations between MITI, the EAC, and MIDA, Mohamed Azmin said it was decided that a proposal to introduce new incentives to attract foreign investors into Malaysia will be further discussed with the MoF.

A special assembly at the Ministry of International Trade and Industry. PHOTO: BERNAMA